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Auto components manufacturer Magna International and Tata AutoComp Systems have signed an agreement to jointly develop seats for commercial vehicles in India.
The 50:50 joint venture will focus on developing seating systems for commercial vehicle manufacturers and buses, Magna International Chief Technology Officer Swamy Kotagiri told visiting presspersons here.
The joint venture company will be headquartered in Pune. Kotagiri, however, did not disclose the financial details of the agreement.
Separately, the company has also won an order from Mahindra & Mahindra (M&M) to develop ladder frames for a new Sports Utility Vehicle (SUV). He, however, declined to provide further details on the order.
(This correspondent was in Detroit to cover the Battery Show at the invitation of a number of auto companies . )
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